Current property manager Aimbridge Hospitality will likely continue in that role with the new owner.

The Bethesda, MD-based Condor Hospitality plans to close the Fairfield Inn and Residence Inn in late 3Q 2017, and the TownePlace Suites in early 2018. Condor CEO Bill Blackham said that the acquisition fits the REIT’s strategy of buying newer, premium-branded, select-service assets in secondary markets. The hotels have an average age of less than two years.